Online beauty retailer Nykaa crossed the market capitalization of Rs 1 lakh crore during its market debut today. The market cap of Nykaa breached the Rs 1 lakh crore mark for a while after stellar listing of the company on BSE and NSE.
The share hit an intra day high of Rs 2,129 on BSE, rising 89.24% compared to the issue price. Later, the stock saw some profit booking, leading to market cap dipping below Rs 1 lakh crore.┬а At 10:55 am, the stock was trading at Rs 2029 against issue price of Rs 1,125. Market cap of the firm stood at Rs 95,878 crore on BSE.
Also read: Nykaa makes strong market debut, stock lists at 79% premium to issue price
Earlier, Nykaa made its market debut at Rs 2,001 per share (77% premium) on the BSE against the IPO issue price of Rs 1,125. Price band of the IPO was fixed at Rs 1,085-1,125 per share.
The IPO was open for subscription from October 28 to November 1. The share rose 79% on its market debut on NSE. The share opened at Rs 2,018 on NSE against IPO price of Rs 1125.
The initial public offering (IPO) of Nykaa’s parent FSN E-Commerce Ventures Ltd was subscribed more than 82 times at the end of the final day of bidding on November 1. The firm raised Rs 2,396 crore from anchor investors on October 27.
A retail investor could apply for a minimum of 12 shares or 1 lot in the IPO for which Rs 13,500 will have to be spent. One could apply for a maximum of 14 lots, comprising 168, shares for which bids worth Rs 1,89,000 will have to be placed.
The firm allotted shares on November 8.
Falguni Nayar, Sanjay Nayar, Falguni Nayar Family Trust And Sanjay Nayar Family Trust are the promoters of the company.
Post the IPO, their stake has fallen to 52.56 per cent from the pre-issue’s 54.26 per cent. Kotak Mahindra Capital, Morgan Stanley India, Bank of America Securities, Citigroup Global Markets India, ICICI Securities and JM Financial were the merchant bankers to the issue.
